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April 28, 2024 |
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| Home > Small Business Lenders by State > Virginia Business Loan Sources > Virginia Beach, Business Loans > Resource Bank Virginia Beach Business Loans > Pet Care Services Loan | ||||
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Raising Money in Manassas, Virginia With SBA Loans
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Manassas, Virginia Entrepreneur Gets a Small Business LoanSBA loans in Virginia are hard to find these days. We take a look at one Virginia SBA loan, provided by a Virginia bank, that was approved by the SBA. Getting a small business loan in Manassas, Virginia was a top priority for this particular business back in 2007 and, based on their loan application, they were successful in getting an SBA loan from Resource Bank. Here are the details on this Virginia small business loan. SBA Loan Borrower COMPANY TYPE: PET CARE SERVICES SBA Loan Lender RESOURCE BANK As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 812910 - Pet Care Services Loan Approval Date 9/25/2007 Loan Approval Gross Amount $415,000 Loan Approval from the SBA Of the total $415,000 loan amount, the SBA guaranteed $311,250. More Information on This SBA Loan The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 2 employees. This SBA loan request indicated that the loan would help generate 15 new jobs and retain 2 existing jobs. Start the Process for Getting an SBA Loan Today! SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! About This SBA Loan Information: All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ. Related Links: Good Banks for Small Business in Virginia Beach, Virginia
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